diff --git a/vms/platformvm/block/builder/builder.go b/vms/platformvm/block/builder/builder.go
index 79c05992bf53..dd46253aeb4e 100644
--- a/vms/platformvm/block/builder/builder.go
+++ b/vms/platformvm/block/builder/builder.go
@@ -7,13 +7,13 @@ import (
 	"context"
 	"errors"
 	"fmt"
+	"sync"
 	"time"
 
 	"go.uber.org/zap"
 
 	"github.com/ava-labs/avalanchego/ids"
 	"github.com/ava-labs/avalanchego/snow/consensus/snowman"
-	"github.com/ava-labs/avalanchego/utils/timer"
 	"github.com/ava-labs/avalanchego/utils/timer/mockable"
 	"github.com/ava-labs/avalanchego/utils/units"
 	"github.com/ava-labs/avalanchego/vms/platformvm/block"
@@ -33,24 +33,31 @@ const targetBlockSize = 128 * units.KiB
 var (
 	_ Builder = (*builder)(nil)
 
-	ErrEndOfTime       = errors.New("program time is suspiciously far in the future")
-	ErrNoPendingBlocks = errors.New("no pending blocks")
+	ErrEndOfTime                 = errors.New("program time is suspiciously far in the future")
+	ErrNoPendingBlocks           = errors.New("no pending blocks")
+	errMissingPreferredState     = errors.New("missing preferred block state")
+	errCalculatingNextStakerTime = errors.New("failed calculating next staker time")
 )
 
 type Builder interface {
 	mempool.Mempool
 
-	// ResetBlockTimer schedules a timer to notify the consensus engine once
-	// there is a block ready to be built. If a block is ready to be built when
-	// this function is called, the engine will be notified directly.
+	// StartBlockTimer starts to issue block creation requests to advance the
+	// chain timestamp.
+	StartBlockTimer()
+
+	// ResetBlockTimer forces the block timer to recalculate when it should
+	// advance the chain timestamp.
 	ResetBlockTimer()
 
-	// BuildBlock is called on timer clock to attempt to create
-	// next block
-	BuildBlock(context.Context) (snowman.Block, error)
+	// ShutdownBlockTimer stops block creation requests to advance the chain
+	// timestamp.
+	//
+	// Invariant: Assumes the context lock is held when calling.
+	ShutdownBlockTimer()
 
-	// Shutdown cleanly shuts Builder down
-	Shutdown()
+	// BuildBlock can be called to attempt to create a new block
+	BuildBlock(context.Context) (snowman.Block, error)
 }
 
 // builder implements a simple builder to convert txs into valid blocks
@@ -61,10 +68,11 @@ type builder struct {
 	txExecutorBackend *txexecutor.Backend
 	blkManager        blockexecutor.Manager
 
-	// This timer goes off when it is time for the next validator to add/leave
-	// the validator set. When it goes off ResetTimer() is called, potentially
-	// triggering creation of a new block.
-	timer *timer.Timer
+	// resetTimer is used to signal that the block builder timer should update
+	// when it will trigger building of a block.
+	resetTimer chan struct{}
+	closed     chan struct{}
+	closeOnce  sync.Once
 }
 
 func New(
@@ -73,17 +81,111 @@ func New(
 	txExecutorBackend *txexecutor.Backend,
 	blkManager blockexecutor.Manager,
 ) Builder {
-	builder := &builder{
+	return &builder{
 		Mempool:           mempool,
 		txBuilder:         txBuilder,
 		txExecutorBackend: txExecutorBackend,
 		blkManager:        blkManager,
+		resetTimer:        make(chan struct{}, 1),
+		closed:            make(chan struct{}),
+	}
+}
+
+func (b *builder) StartBlockTimer() {
+	go func() {
+		timer := time.NewTimer(0)
+		defer timer.Stop()
+
+		for {
+			// Invariant: The [timer] is not stopped.
+			select {
+			case <-timer.C:
+			case <-b.resetTimer:
+				if !timer.Stop() {
+					<-timer.C
+				}
+			case <-b.closed:
+				return
+			}
+
+			// Note: Because the context lock is not held here, it is possible
+			// that [ShutdownBlockTimer] is called concurrently with this
+			// execution.
+			for {
+				duration, err := b.durationToSleep()
+				if err != nil {
+					b.txExecutorBackend.Ctx.Log.Error("block builder encountered a fatal error",
+						zap.Error(err),
+					)
+					return
+				}
+
+				if duration > 0 {
+					timer.Reset(duration)
+					break
+				}
+
+				// Block needs to be issued to advance time.
+				b.Mempool.RequestBuildBlock(true /*=emptyBlockPermitted*/)
+
+				// Invariant: ResetBlockTimer is guaranteed to be called after
+				// [durationToSleep] returns a value <= 0. This is because we
+				// are guaranteed to attempt to build block. After building a
+				// valid block, the chain will have its preference updated which
+				// may change the duration to sleep and trigger a timer reset.
+				select {
+				case <-b.resetTimer:
+				case <-b.closed:
+					return
+				}
+			}
+		}
+	}()
+}
+
+func (b *builder) durationToSleep() (time.Duration, error) {
+	// Grabbing the lock here enforces that this function is not called mid-way
+	// through modifying of the state.
+	b.txExecutorBackend.Ctx.Lock.Lock()
+	defer b.txExecutorBackend.Ctx.Lock.Unlock()
+
+	// If [ShutdownBlockTimer] was called, we want to exit the block timer
+	// goroutine. We check this with the context lock held because
+	// [ShutdownBlockTimer] is expected to only be called with the context lock
+	// held.
+	select {
+	case <-b.closed:
+		return 0, nil
+	default:
+	}
+
+	preferredID := b.blkManager.Preferred()
+	preferredState, ok := b.blkManager.GetState(preferredID)
+	if !ok {
+		return 0, fmt.Errorf("%w: %s", errMissingPreferredState, preferredID)
+	}
+
+	nextStakerChangeTime, err := txexecutor.GetNextStakerChangeTime(preferredState)
+	if err != nil {
+		return 0, fmt.Errorf("%w of %s: %w", errCalculatingNextStakerTime, preferredID, err)
 	}
 
-	builder.timer = timer.NewTimer(builder.setNextBuildBlockTime)
+	now := b.txExecutorBackend.Clk.Time()
+	return nextStakerChangeTime.Sub(now), nil
+}
+
+func (b *builder) ResetBlockTimer() {
+	// Ensure that the timer will be reset at least once.
+	select {
+	case b.resetTimer <- struct{}{}:
+	default:
+	}
+}
 
-	go txExecutorBackend.Ctx.Log.RecoverAndPanic(builder.timer.Dispatch)
-	return builder
+func (b *builder) ShutdownBlockTimer() {
+	b.closeOnce.Do(func() {
+		close(b.closed)
+	})
 }
 
 // BuildBlock builds a block to be added to consensus.
@@ -93,27 +195,18 @@ func (b *builder) BuildBlock(context.Context) (snowman.Block, error) {
 	b.Mempool.DisableAdding()
 	defer func() {
 		b.Mempool.EnableAdding()
+		// If we need to advance the chain's timestamp in a standard block, but
+		// we build an invalid block, then we need to re-trigger block building.
+		//
+		// TODO: Remove once we are guaranteed to build a valid block.
 		b.ResetBlockTimer()
+		// If there are still transactions in the mempool, then we need to
+		// re-trigger block building.
+		b.Mempool.RequestBuildBlock(false /*=emptyBlockPermitted*/)
 	}()
 
-	ctx := b.txExecutorBackend.Ctx
-	ctx.Log.Debug("starting to attempt to build a block")
-
-	statelessBlk, err := b.buildBlock()
-	if err != nil {
-		return nil, err
-	}
-
-	// Remove selected txs from mempool now that we are returning the block to
-	// the consensus engine.
-	txs := statelessBlk.Txs()
-	b.Mempool.Remove(txs)
-	return b.blkManager.NewBlock(statelessBlk), nil
-}
+	b.txExecutorBackend.Ctx.Log.Debug("starting to attempt to build a block")
 
-// Returns the block we want to build and issue.
-// Only modifies state to remove expired proposal txs.
-func (b *builder) buildBlock() (block.Block, error) {
 	// Get the block to build on top of and retrieve the new block's context.
 	preferredID := b.blkManager.Preferred()
 	preferred, err := b.blkManager.GetBlock(preferredID)
@@ -131,7 +224,7 @@ func (b *builder) buildBlock() (block.Block, error) {
 		return nil, fmt.Errorf("could not calculate next staker change time: %w", err)
 	}
 
-	return buildBlock(
+	statelessBlk, err := buildBlock(
 		b,
 		preferredID,
 		nextHeight,
@@ -139,75 +232,15 @@ func (b *builder) buildBlock() (block.Block, error) {
 		timeWasCapped,
 		preferredState,
 	)
-}
-
-func (b *builder) Shutdown() {
-	// There is a potential deadlock if the timer is about to execute a timeout.
-	// So, the lock must be released before stopping the timer.
-	ctx := b.txExecutorBackend.Ctx
-	ctx.Lock.Unlock()
-	b.timer.Stop()
-	ctx.Lock.Lock()
-}
-
-func (b *builder) ResetBlockTimer() {
-	// Next time the context lock is released, we can attempt to reset the block
-	// timer.
-	b.timer.SetTimeoutIn(0)
-}
-
-func (b *builder) setNextBuildBlockTime() {
-	ctx := b.txExecutorBackend.Ctx
-
-	// Grabbing the lock here enforces that this function is not called mid-way
-	// through modifying of the state.
-	ctx.Lock.Lock()
-	defer ctx.Lock.Unlock()
-
-	if !b.txExecutorBackend.Bootstrapped.Get() {
-		ctx.Log.Verbo("skipping block timer reset",
-			zap.String("reason", "not bootstrapped"),
-		)
-		return
-	}
-
-	if _, err := b.buildBlock(); err == nil {
-		// We can build a block now
-		b.Mempool.RequestBuildBlock(true /*=emptyBlockPermitted*/)
-		return
-	}
-
-	// Wake up when it's time to add/remove the next validator/delegator
-	preferredID := b.blkManager.Preferred()
-	preferredState, ok := b.blkManager.GetState(preferredID)
-	if !ok {
-		// The preferred block should always be a decision block
-		ctx.Log.Error("couldn't get preferred block state",
-			zap.Stringer("preferredID", preferredID),
-			zap.Stringer("lastAcceptedID", b.blkManager.LastAccepted()),
-		)
-		return
-	}
-
-	nextStakerChangeTime, err := txexecutor.GetNextStakerChangeTime(preferredState)
 	if err != nil {
-		ctx.Log.Error("couldn't get next staker change time",
-			zap.Stringer("preferredID", preferredID),
-			zap.Stringer("lastAcceptedID", b.blkManager.LastAccepted()),
-			zap.Error(err),
-		)
-		return
+		return nil, err
 	}
 
-	now := b.txExecutorBackend.Clk.Time()
-	waitTime := nextStakerChangeTime.Sub(now)
-	ctx.Log.Debug("setting next scheduled event",
-		zap.Time("nextEventTime", nextStakerChangeTime),
-		zap.Duration("timeUntil", waitTime),
-	)
-
-	// Wake up when it's time to add/remove the next validator
-	b.timer.SetTimeoutIn(waitTime)
+	// Remove selected txs from mempool now that we are returning the block to
+	// the consensus engine.
+	txs := statelessBlk.Txs()
+	b.Mempool.Remove(txs)
+	return b.blkManager.NewBlock(statelessBlk), nil
 }
 
 // [timestamp] is min(max(now, parent timestamp), next staker change time)
diff --git a/vms/platformvm/block/builder/builder_test.go b/vms/platformvm/block/builder/builder_test.go
index 434d5b7b2552..3a030cdedcce 100644
--- a/vms/platformvm/block/builder/builder_test.go
+++ b/vms/platformvm/block/builder/builder_test.go
@@ -38,6 +38,7 @@ func TestBlockBuilderAddLocalTx(t *testing.T) {
 	env.ctx.Lock.Lock()
 	defer func() {
 		require.NoError(shutdownEnvironment(env))
+		env.ctx.Lock.Unlock()
 	}()
 
 	// Create a valid transaction
@@ -78,6 +79,7 @@ func TestPreviouslyDroppedTxsCanBeReAddedToMempool(t *testing.T) {
 	env.ctx.Lock.Lock()
 	defer func() {
 		require.NoError(shutdownEnvironment(env))
+		env.ctx.Lock.Unlock()
 	}()
 
 	// Create a valid transaction
@@ -130,6 +132,7 @@ func TestNoErrorOnUnexpectedSetPreferenceDuringBootstrapping(t *testing.T) {
 	env.isBootstrapped.Set(false)
 	defer func() {
 		require.NoError(shutdownEnvironment(env))
+		env.ctx.Lock.Unlock()
 	}()
 
 	require.True(env.blkManager.SetPreference(ids.GenerateTestID())) // should not panic
@@ -322,6 +325,7 @@ func TestBuildBlock(t *testing.T) {
 	env.ctx.Lock.Lock()
 	defer func() {
 		require.NoError(t, shutdownEnvironment(env))
+		env.ctx.Lock.Unlock()
 	}()
 
 	var (
diff --git a/vms/platformvm/block/builder/helpers_test.go b/vms/platformvm/block/builder/helpers_test.go
index 36a6822ce3e2..529c06a52d1b 100644
--- a/vms/platformvm/block/builder/helpers_test.go
+++ b/vms/platformvm/block/builder/helpers_test.go
@@ -194,6 +194,7 @@ func newEnvironment(t *testing.T) *environment {
 		&res.backend,
 		res.blkManager,
 	)
+	res.Builder.StartBlockTimer()
 
 	res.blkManager.SetPreference(genesisID)
 	addSubnet(t, res)
@@ -419,7 +420,7 @@ func buildGenesisTest(t *testing.T, ctx *snow.Context) []byte {
 }
 
 func shutdownEnvironment(env *environment) error {
-	env.Builder.Shutdown()
+	env.Builder.ShutdownBlockTimer()
 
 	if env.isBootstrapped.Get() {
 		validatorIDs := env.config.Validators.GetValidatorIDs(constants.PrimaryNetworkID)
diff --git a/vms/platformvm/block/builder/standard_block_test.go b/vms/platformvm/block/builder/standard_block_test.go
index 827d7357728b..74177e1f88b0 100644
--- a/vms/platformvm/block/builder/standard_block_test.go
+++ b/vms/platformvm/block/builder/standard_block_test.go
@@ -26,6 +26,7 @@ func TestAtomicTxImports(t *testing.T) {
 	env.ctx.Lock.Lock()
 	defer func() {
 		require.NoError(shutdownEnvironment(env))
+		env.ctx.Lock.Unlock()
 	}()
 
 	utxoID := avax.UTXOID{
diff --git a/vms/platformvm/block/executor/rejector.go b/vms/platformvm/block/executor/rejector.go
index cfc64b050be4..6b2565288fca 100644
--- a/vms/platformvm/block/executor/rejector.go
+++ b/vms/platformvm/block/executor/rejector.go
@@ -82,7 +82,7 @@ func (r *rejector) rejectBlock(b block.Block, blockType string) error {
 		}
 	}
 
-	r.Mempool.RequestBuildBlock(false)
+	r.Mempool.RequestBuildBlock(false /*=emptyBlockPermitted*/)
 
 	return nil
 }
diff --git a/vms/platformvm/network/network.go b/vms/platformvm/network/network.go
index 5f4945093d60..4600cce7f581 100644
--- a/vms/platformvm/network/network.go
+++ b/vms/platformvm/network/network.go
@@ -181,7 +181,7 @@ func (n *network) issueTx(tx *txs.Tx) error {
 		return err
 	}
 
-	n.mempool.RequestBuildBlock(false)
+	n.mempool.RequestBuildBlock(false /*=emptyBlockPermitted*/)
 
 	return nil
 }
diff --git a/vms/platformvm/vm.go b/vms/platformvm/vm.go
index d9898b873137..4c1e10c645d6 100644
--- a/vms/platformvm/vm.go
+++ b/vms/platformvm/vm.go
@@ -330,7 +330,7 @@ func (vm *VM) onNormalOperationsStarted() error {
 	}
 
 	// Start the block builder
-	vm.Builder.ResetBlockTimer()
+	vm.Builder.StartBlockTimer()
 	return nil
 }
 
@@ -351,7 +351,7 @@ func (vm *VM) Shutdown(context.Context) error {
 		return nil
 	}
 
-	vm.Builder.Shutdown()
+	vm.Builder.ShutdownBlockTimer()
 
 	if vm.bootstrapped.Get() {
 		primaryVdrIDs := vm.Validators.GetValidatorIDs(constants.PrimaryNetworkID)